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Debt Collection

There’s Big Bucks in Bad Debts

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For decades, credit-card companies and other firms would eventually give up after attempting to collect from deadbeat customers. Now, companies are packaging and selling many of those overdue accounts for pennies on the dollar to debt collectors. The collectors then aggressively pursue the debtors to repay, or they turn around and resell those same debts to other collection firms. This ... Read More »

    How to Stop Debt Collector From Calling You – Video

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    Here is a nice new video from the Federal Trade Commission to help explain what rights you have when facing debt collection. Read More »

      What Would Life Be Like if Jesus Was a Debt Collector for Bank of America?

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      It does not matter what religion that you practice, seeking divine intervention is a common thread that binds us all. And that is good. Since debt does not discriminate among those of various religions we should not discriminate when we talk about a single unified higher power, in this case and for this discussion, God. There is no way that ... Read More »

        Frightening Calls From Fake Debt Collectors Threaten People With Jail for Payday Loans. It’s a Scam.

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        Phantom phony debt collectors with Indian accents are calling people trying to scare them into paying debts that are not theirs. Some of the company names they use are American Credit Services, TAC Evolution, Allied Financial Services, CashNetUSA, Sonic Bank, Sonic CashNet, CashLand, and Cash America. If you know of others, please add them in the comments section below. The ... Read More »

          Collection Lawyer Blames Wrong Man for Allowing Himself to be Sued.

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          Now here is a story that made me laugh. Picture this, a collections firm sues a man over a debt that isn’t his and the lawyer, in front of the judge, accuses the man of allowing himself to be sued even though he told the collections company he was the wrong guy. Under questioning by the judge, Mr. Hoyte recounted ... Read More »

            Debt Collector That Called People Loser for Not Paying Their Debts Just Went Bankrupt

            I don’t think people who go bankrupt are losers or morally corrupt. Most people are just good people stuck in the middle of a really bad situation. But people do feel bad about the situation and often feel less than whole for having lived through the need to file bankruptcy. But I could not help chuckle at the irony here ... Read More »

              New York Files Criminal Charges Against Debt Collectors

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              Attorney General Andrew M. Cuomo today announced the filing of criminal charges against 12 employees of several Buffalo-area debt collection companies for posing as law enforcement officials and threatening to have consumers thrown in jail unless they immediately paid off the debts that they supposedly owed. All of the individuals charged today worked for one or more of the debt ... Read More »

                NY AG Goes After a Group of Buffalo Debt Collectors For Using Verbal Abuse and Sexual Harassment to Collect

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                Attorney General Andrew M. Cuomo today announced that his office has filed a lawsuit seeking to shut down a Buffalo-based debt collection operation consisting of 13 debt collection companies run by Buffalo residents Omar Smith, Narvell Benning and Keith Marshall (collectively, the “Benning-Smith Group”). Today’s announcement is the latest action in Attorney General Cuomo’s ongoing investigation of unlawful debt collection ... Read More »

                  Missouri Attorney General Goes After Portfolio Recovery Associates and Professional Debt Management

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                  Attorney General Chris Koster today filed suit against two debt collection companies that are operating scams to collect debts from citizens who do not owe the money. Koster filed law suits in St. Louis against Portfolio Recovery Associates, a public company based in Virginia, and Professional Debt Management located in Kansas City. Koster said Portfolio buys old and bankruptcy-discharged debt, ... Read More »

                    New York State Shuts Down Debt Collection Companies That Used Illegal Scare Tactics

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                    Attorney General Andrew M. Cuomo announced that his office has shut down a New York collection operation that consisted of at least nine debt collection companies across Western New York, run by Buffalo resident Tobias Boyland. This is the latest action in Attorney General Cuomo’s ongoing investigation of unlawful debt collection practices. According to hundreds of consumer complaints filed with ... Read More »

                      Attorney General Reaches Deal With Debt Collection Companies Over Deceptive Practices

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                      New York Attorney General Andrew M. Cuomo today announced that his office has reached an agreement with three New York debt collection companies that failed to adequately supervise employees who engaged in deceptive and fraudulent methods to collect debts. The three companies, Creditors Interchange Receivable Management, LLC, Capital Management Services, LP and Tri-Financial, LLC, have agreed to substantially reform their ... Read More »

                        New York Attorney General Launches Inquiry Into Debt Collection Companies

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                        ATTORNEY GENERAL CUOMO LAUNCHES INQUIRY INTO DEBT COLLECTORS ACROSS NEW YORK STATE Cuomo Shuts Down NY Collection Agencies That Threatened and Intimidated Consumers Into Paying Debts They Didn’t Owe Sends Subpoenas to Nearly 20 Debt Collectors Statewide Attorney General Andrew M. Cuomo today announced that his office has launched a statewide inquiry into debt collection companies. As part of the ... Read More »

                          Debt Collectors Agree to Not Chase Debtors for 30 Days

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                          Collections agencies in the UK have agreed not to chase debts for 30 days when debtors seek advice from accredited debt management companies. The 30 day breathing space, agreed between the Department of Business, Enterprise and Regulatory Reform (BERR) and the Credit Services Association (CSA), will start once an accredited debt management company has been appointed to help a debtor. ... Read More »

                            Video of Debt Collectors That Pose as Police to Scare People to Pay or They Go Directly to Jail

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                            There are plenty of respectable and good debt collectors that run their business in compliance with local and federal laws. And then there are the collection companies that engage in abusive practices and behavior. For those of us that regularly work with people in debt it is hard to not become distrustful or develop a strong dislike for debt collectors ... Read More »

                              Collection Agent Trying Not to Use Violence

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                              A recent article in the Christian Science Monitor just exemplifies how different consumer debt rules are around the world. In some areas debt collectors can intimidate you and in other parts of the world they can come to your home and office and shame you, grab you or break in. The article is about debt problems in India and my ... Read More »

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